Deals
Diana and Axis exit GG
Diana Capital and Axis Participaciones have exited their stakes in Spain’s Grupo Guascor (GG), in a deal that values the diesel and gas engines supplier at €500m.
EdRIP takes 25% of Inventia
Edmond de Rothschild Investment Partners has acquired 25% of Inventia, the holding company of French cosmetics and cleaning products manufacturer Novamex.
Herkules acquires Norsk Jernbanedrift
Herkules has acquired a majority stake in Norsk Jernbarnedrift (NJD), a company that specialises in maintenance, construction and projects for railway infrastructure in Norway.
Perceva Capital recapitalises Shark
Perceva Capital has recapitalised French motorcycle helmets manufacturer Shark.
First Reserve signs off AED buyout
First Reserve Corporation has acquired a 45% stake in Ansaldo Energia, a major Italian producer of thermoelectric power plants, as part of a management buyout transaction.
Investinor et al. inject NOK 25m in Smartfish
Investinor has led a NOK 25m investment in Smartfish, a Norwegian biotech company that offers synergistic omega-3 based emulsions.
Investcorp sells Moody International for £450m
Investcorp has exited technical services group Moody International to trade buyer Intertek for £450m.
Rutland acquires Gems International
Rutland Partners has acquired a majority stake in Belgium-based GEMS International NV, which provides subsea technical analysis and surveying.
Duke Street to buy Wagamama for £215m
Duke Street is about to acquire UK fast-food chain Wagamama from Lion Capital for around £215m, according to media reports.
Ysios et al. invest €18m in Cellerix
Existing investors have invested a further €18m in Spanish biopharma Cellerix, prior to its merger with Belgium-based TiGenix.
Astorg-backed Metalor acquires NECC Coatings Division
Metalor Technologies, a Swiss portfolio company of Astorg Partners, has agreed to acquire NECC's Coatings Division in Asia for an undisclosed amount.
Bridgepoint acquires Médipôle Sud Santé
Bridgepoint Capital has acquired French clinics operator Médipôle Sud Santé for an undisclosed amount.
Corpfin sells Restauravia to AmRest
Corpfin Capital has sold its 76.3% stake in Spanish restaurant chain Restauravia Grupo Empresarial to Polish restaurant operator AmRest Holding.
AC Desarrollo-backed Geroresidencias-La Saleta acquires Secopsaleta
Geroresidencias-La Saleta, a portfolio company of AC Desarrollo, has acquired 100% of Secopsaleta, the business it co-founded in 2009.
Invercaria invests in IActive
Invercaria has invested €750,000 as part of a €3m funding round for Spanish technology company IActive.
Yoplait race narrows to six bidders
The sale process for PAI Partners's stake in French yoghurt maker Yoplait has narrowed to six candidates, according to media reports.
Coller to buy €500m secondaries portfolio from Crédit Agricole
Coller Capital is in talks with Crédit Agricole to buy €500m worth of stakes in buyout funds, according to media reports.
Multiple worries
According to the man on the street, multiples nowadays stand at around 7x EBITDA for assets, up to 9x if it’s a ‘quality asset’ (meaning it stands at 9x, since I know of no GP willing to admit he buys low-quality assets). This is down markedly from...
Apax and Bridgepoint team up again on CEP buyout
Apax Partners and Bridgepoint Capital are teaming up to buy French mortgage insurance services company Compagnie Européenne de Prévoyance (CEP) from PAI Partners, according to media reports.
General Atlantic-backed Privalia acquires Palamon’s Dress for Less
General Atlantic, Highland Capital Partners, Index Ventures and Insight Venture Partners have injected €88m of new equity into Spanish private online sales club Privalia.
EQT-owned Gambro sells CaridianBCT
EQT and Investor-backed Gambro AB has sold CaridianBCT to Terumo Corporation for an enterprise value of $2.625bn.
French retail funds: Feeling the strain
FCPI and FIP retail vehicles have been a major source of funding for innovative French SMEs in recent years. But according to a study carried out by French trade body AFIC, these funds attracted fewer commitments in 2010. Is a tougher economic environment...
Consortium sells LAB901
Archangel Informal Investment, Alliance Trust, Scottish Enterprise, Foresight, Noble Fund Managers and the Business Growth Fund have exited their stake in LAB901.
3i exits Frozen Value via management buy-back
UK buyout giant 3i has exited discount grocery retail chain Frozen Value via a management buy-back.